Statement: The Central Bank Of Iraq Sells Gold Bullion !

[DinarThug]

CNN. Broadcasting A CBI Release: Mess With The Bullion - Get The Horn !

 

 

 

Statement: The Central Bank of Iraq sells gold bullion

08/17/2015 01:14



In order to diversify the public savings and ensure that he receives the gold 24 carat ... the Iraqi Central Bank has contracted with a leading global coined bullion companies Stamping gold bullion weights (5, 10, 15, 20, 25 and 50) g and put up for sale through banks and During his position in Baghdad for the staff, and will basic alloy of big weights (100 250 500 1000) g and put it soon. So we call on banks to provide their applications to the Directorate General of issuing and cabinets to buy quantities you wish to purchase for its own account or on behalf of the public. have been identified price selling on the basis of cost and continued Baghdad International Airport plus administrative downloads by 1% according to the table below.


http://imn.iq/news/view.73826/

[djiboutikid]

This sounds like it could be a mitigation action for a possible RV, or maybe they are just trying to bail out their sinking ship... Anybody else get any ideas from this story? Gold colored smoke?

[drj]

Why would they buy all of that gold and turn around and sell at a lower price?   Buy high and sell low doesn't add up.

[chris2028]

Thanks DT

[aaanth]

Why would they buy all of that gold and turn around and sell at a lower price?   Buy high and sell low doesn't add up.

it sounds like they are taking the gold they already have have and having a company turn some of the ingots into coins, then be able to sell gold in smaller pieces.  i believe the ingots are weighed in kilos and that may be more difficult to sell. WHY they are selling?  i do not know...

[magawatt]

Could be to suck in as many dinars as possible. Could be an indication of a higher than lower RV.

[MyLadiesDaddy]

Why would they buy all of that gold and turn around and sell at a lower price?   Buy high and sell low doesn't add up.

   You must have invested in a lot of foreign currencies and forgotten that this was a 

 

dinar site. Nothing adds up.  

 

Could be to suck in as many dinars as possible. Could be an indication of a higher than lower RV.

I'd bank on that

[Laid Back]

I remember shabibi talking about the CBI selling gold.

This is part of the new monetary policy, and it will help to continue reducing the note count.

Another step forward for the CBI

[olivesman]

I'm not the sharpest tack on the bulletin board

but would it somehow encourage the

opening of a bank account?

[Texstorm]

Yea Iraq is saying 5T infused into the banks to boost the economy , here I go again ........BS ! You can't reduce the note count that way ! Selling gold is one of the ways to help cover an M0 RV ! Come on HCL ! We are ready !

[drj]

Yea Iraq is saying 5T infused into the banks to boost the economy , here I go again ........BS ! You can't reduce the note count that way ! Selling gold is one of the ways to help cover an M0 RV ! Come on HCL ! We are ready !

 

Great post.  Someone negged ya, Tex, so I evened things out.  

   You must have invested in a lot of foreign currencies and forgotten that this was a 

 

dinar site. Nothing adds up.  

 

 

 

Yeah, you're right, LGD.  It is Iraq, I guess that I wasn't thinking...

I remember shabibi talking about the CBI selling gold.

This is part of the new monetary policy, and it will help to continue reducing the note count.

Another step forward for the CBI

 

Now that you mention it, LB, I vaguely remember the same.  COOL! 

[Texstorm]

How does a country reduce its money supply ? Government bonds are one way, to take cash out of circulation otherwise known as an IOU with a given maturity date of let's say 10 years +. Or the banks can have restrictions placed on them from 10-20% which allows them to loan out the remaining amount in of deposits and that can also reduce the money supply. My friend Trinitye knows that an expansionary monetary policy will be a driving factor in which the money supply triggers an increase in aggregate demand and that translates into less circulating money, supply and demand. The ideal is for the circulating money supply to equal the productive output of a country so everything produced can be bought. Our only difference is that Iraq is not able to do that today and he didn't say today. I believe that Iraq is going to have to put the cart before the horse given their resources , to gain confidence in foreign investors so that they may attract the investments they need to operate a country. If anyone read my other post with Trinitye you would know that it usually takes 27 years for a successful country to come out of a war torn era according to the WB "World Bank". Well I say that the USA has invested more than money and y'all know what I'm talking about. As of right now we are their sponsor country we have their back. Iraq must move quickly and that's what I'm counting on. Thank You Trinitye !

[sandfly]

THANKS

[Rockymtnhi]

They are selling gold to raise cash because they are unable to pay their bills.  Their only means of revenue is down 60% and they are getting desperate.

[MyLadiesDaddy]

How does a country reduce its money supply ? Government bonds are one way, to take cash out of circulation otherwise known as an IOU with a given maturity date of let's say 10 years +. Or the banks can have restrictions placed on them from 10-20% which allows them to loan out the remaining amount in of deposits and that can also reduce the money supply. My friend Trinitye knows that an expansionary monetary policy will be a driving factor in which the money supply triggers an increase in aggregate demand and that translates into less circulating money, supply and demand. The ideal is for the circulating money supply to equal the productive output of a country so everything produced can be bought. Our only difference is that Iraq is not able to do that today and he didn't say today. I believe that Iraq is going to have to put the cart before the horse given their resources , to gain confidence in foreign investors so that they may attract the investments they need to operate a country. If anyone read my other post with Trinitye you would know that it usually takes 27 years for a successful country to come out of a war torn era according to the WB "World Bank". Well I say that the USA has invested more than money and y'all know what I'm talking about. As of right now we are their sponsor country we have their back. Iraq must move quickly and that's what I'm counting on. Thank You Trinitye !

Good Lord, between you the Prof. and Adam I'm beginning to think 

 

were all in banking school.     

[jeepguy]

I wonder if  they have contacted  the  --- franklin mint ----  commemorative  gold coins , and stamps ,   ---     

[haden'sdad]

It doesn't say they are selling it at a lower price.

[Texstorm]

Good Lord, between you the Prof. and Adam I'm beginning to think 

 

were all in banking school.     

. It's all Adams fault LOL

[drj]

It doesn't say they are selling it at a lower price.

 

Iraq bought the majority of their gold when gold was at $1900 and now, it is down to $1100.  Here is a link, check the 5-year chart...http://www.nasdaq.com/markets/gold.aspx?timeframe=5y

[yota691]

The average price of one gram Dahab today in Iraq, the currency of Iraqi dinars

18/08/2015 02:40 | Number of Views: 234

Font size:  

Direction Press

Unity Iraqi dinars US dollars

The price of 24 carat gold 41356.65 $ 35.97

The price of 22 carat gold 37910.26 $ 32.97

The price of gold 21 carat $ 36187.07 31.47

The gold price is $ 26.97 31017.49 18 caliber

The gold price is 14 24124.71 caliber $ 20.98

The price of 10 carat gold 17231.94 $ 14.99

An ounce of gold prices 1,286,335.52 $ 1,118.65

Gold prices £ 289,496.56 $ 251.76

Kilo Gold Prices 41,355,687.07 $ 35964.6

[Texstorm]

Kinda like my dinar buying spree, buy high ! and i'm dang sure not selling low ! At present rate I figure I'll be about 72 years old just to break even LOL ! LOL ! LOL ! 

[Big_J]

GM YOTA AND DV. I HAVE A QUESTION, WHEN DID THE CBI CHANGE THE FRONT PAGE? WHERE IT HAS THE GDP, INFLATION, DATES CHANGED TO 2014 AND 2015?

[zzztop]

Every time I see any article about precious metals I think of The Machine.  I never see posts from him anymore.  Anybody know what happened to him?

[MyLadiesDaddy]

The average price of one gram Dahab today in Iraq, the currency of Iraqi dinars

18/08/2015 02:40 | Number of Views: 234

Font size:  

Direction Press

Unity Iraqi dinars US dollars

The price of 24 carat gold 41356.65 $ 35.97

The price of 22 carat gold 37910.26 $ 32.97

The price of gold 21 carat $ 36187.07 31.47

The gold price is $ 26.97 31017.49 18 caliber

The gold price is 14 24124.71 caliber $ 20.98

The price of 10 carat gold 17231.94 $ 14.99

An ounce of gold prices 1,286,335.52 $ 1,118.65

Gold prices £ 289,496.56 $ 251.76

Kilo Gold Prices 41,355,687.07 $ 35964.6

That has absolutely got to be about monetary reform.

No central bank on earth is going to lose $800 announce on anything.

[drj]

That has absolutely got to be about monetary reform.

No central bank on earth is going to lose $800 announce on anything.

 

It's the only thing that makes sense to me, LGD.   That's why I questioned it when this article first came out.